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Punjab government decides not to buy wheat from farmers

11:12 PM | 8 May, 2024
Wheat purchase

The Punjab Food Department has stated that the Punjab government has no intention to purchase wheat. Farmers are distressed as the government has decided against buying wheat, according to sources.

According to sources, Chief Minister of Punjab Maryam Nawaz wants to directly benefit farmers instead of benefiting the middlemen. The government cannot benefit the middlemen at the expense of the farmers' rights.

The Punjab Food Department reports that there are 2.27 million tons of wheat available in Punjab. If Punjab already has a year's supply of wheat, how can it purchase more? Punjab has to repay a loan of Rs. 355 billion taken for wheat. Every year, a loss of Rs. 125 billion is incurred in wheat purchase, while over Rs. 1 billion is spent on storing and maintaining wheat.

Sources say that by saving billions, farmers will be provided with facilities including farmer cards.

The Punjab Food Department also claims that 95% of wheat has already been sold by farmers, and the uproar by the middlemen is unnecessary.

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Currency Rates in Pakistan Today - Pak Rupee to US Dollar, Euro, Dirham, Riyal 19 May 2024

Pakistani currency rates against US Dollar and other currencies on May 18, 2024 (Saturday) in open market.

USD to PKR rate today

US dollar was being quoted at 277.4 for buying and 280.35 for selling.

Euro stands at 297 for buying and 299.5 for selling while British Pound rate is 348.5 for buying, and 352 for selling.

UAE Dirham AED was at 75.25 and Saudi Riyal came down to 73.50.

Today’s currency exchange rates in Pakistan - 19 May 2024

Currency Symbol Buying Selling
US Dollar USD 277.4 280.35
Euro EUR 297 299.5
UK Pound Sterling GBP 348.5 352
U.A.E Dirham AED 75.25 76
Saudi Riyal SAR 73.5 74.25
Australian Dollar AUD 181 183
Bahrain Dinar BHD 747.77 755.77
Canadian Dollar CAD 203 205
China Yuan CNY 38.49 38.89
Danish Krone DKK 40.25 40.65
Hong Kong Dollar HKD 35.96 36.31
Indian Rupee INR 3.33 3.44
Japanese Yen JPY 1.91 1.99
Kuwaiti Dinar KWD 913.28 922.28
Malaysian Ringgit MYR 58.69 59.29
New Zealand Dollar NZD 169.45 171.45
Norwegian Krone NOK 25.67 25.97
Omani Riyal OMR 730.59 738.59
Qatari Riyal QAR 76.41 77.11
Singapore Dollar SGD 203 205
Swedish Korona SEK 25.67 25.97
Swiss Franc CHF 309.01 311.51
Thai Baht THB 7.57 7.72

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